Welsh Gold mine that made Diana's ring reopens after nearly 20 years

The Welsh gold mine that produced Princess Diana’s wedding ring is set to reopen after nearly 20 years.

The Clogau St David’s mine in North Wales produced three generations of Royals’ rings but closed in 1998 as the gold ran out.

Backers now believe there may be lucrative areas to be explored.

Alba Mineral Resources has bought a 49 per cent stake in Gold Mines of Wales Limited, and hopes to reopen the mine.

Alba chief executive George Frangeskides said: ‘The opportunity presented by this project is pretty unique – high grade gold in the heart of the UK.

‘The fact that Welsh gold attracts a significant premium over spot rates, the historic connections of Welsh gold with the heritage of the UK, the potential for finding more gold in the vastly under-explored exploration ground – all make a strong case for investment.’

As well as Princess Diana’s gold band in 1981, the mine in Bontddu produced the Queen’s wedding ring in 1947, the Queen Mother’s in 1923, Princess Margaret’s in 1960 and the Princess Royal’s in 1973.